Exhibit 99.1
PRESS RELEASE
 
 
 
 
FOR IMMEDIATE RELEASE
 
 
Contact: Andrew D. Regrut
 
 
 
 
Vice President, Investor Relations
 
 
 
 
(614) 278-6622
 
 
 
 
 
 

BIG LOTS REPORTS RESULTS FOR THE FIRST QUARTER OF FISCAL 2019

Q1 GAAP EPS OF $0.39

Q1 ADJUSTED EPS OF $0.92, EXCEEDING GUIDANCE

Q1 COMPARABLE STORE SALES INCREASE 1.5%

COMPANY INCREASES OUTLOOK FOR FISCAL 2019


Columbus, Ohio - May 31, 2019 - Big Lots, Inc. (NYSE: BIG) today reported income of $15.5 million, or $0.39 per diluted share, for the first quarter of fiscal 2019 ended May 4, 2019. This result includes after tax charges totaling $21.4 million, or $0.53 per diluted share, associated with early implementation phases of our strategic business transformation review as well as certain legal settlement loss contingencies. Excluding these charges, adjusted income totaled $37.0 million, or $0.92 per diluted share (see non-GAAP table included later in this release), which compares favorably to our guidance of adjusted income of $0.65 to $0.75 per diluted share (non-GAAP). Adjusted income for the first quarter of fiscal 2018 was $40.0 million, or $0.95 per diluted share (non-GAAP).

Comparable store sales increased 1.5% for the first quarter of fiscal 2019, compared to our guidance of an increase in the low single digits. Net sales for the first quarter of fiscal 2019 totaled $1,296 million, a 2.2% increase compared to $1,268 million for the same period last year, with the increase resulting from positive comparable store sales and sales growth in high volume new stores, or non-comp stores, partially offset by a lower store count year-over-year.

Commenting on today’s announcement, Bruce Thorn, President and CEO of Big Lots stated, “Q1 was a solid start to our new fiscal year with sales growth and comps in line with guidance and adjusted EPS meaningfully higher than our expectations. Our first quarter sales result represents the fourth consecutive quarter of positive comps, which is encouraging in light of the delayed income tax refunds and macro weather challenges in many of our markets. I continue to be very pleased with the progression of certain longer-term strategic elements of our business and their contribution to our near-term results, including the strong performance in our Store of the Future format, the accelerating sales we’re seeing in our new stores, the continued growth of our Rewards loyalty program, and our ecommerce business, which had its best quarter life-to-date.”


logoq119.jpg
Investor Relations Department
 
4900 E Dublin Granville Rd
 
Columbus, OH 43081
 
Phone: (614) 278-6622 Fax: (614) 278-6666
 
E-mail: aschmidt@biglots.com
 

The following information was filed by Big Lots Inc (BIG) on Monday, June 3, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Big Lots Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Big Lots Inc.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

FREE Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue for FREE

Log in with your credentials

or    

Forgot your details?

Create Account